question about wanting to cancle in 14day cooloing off period, £75+ charge???

JINGLE999

but if i had entered 2 years it would have enetered 10/3/2011.... so either way i would have been wrong

JINGLE999

theres also a section saying
"changes to your policy online -£0.00"
"changes to your policy offline £35.00"

so neither of those are correct for the £103 fee to amend the date of license ?

all within the 1st 10 days

spacey2012

I would not insure with anyone who does not issue a certificated bond in hard copy.
It is an extremely important document that you need to hold.
The reasons can become apparent if they decide to cancel the policy for what ever reason leaving you high and dry.

You may be better paying the extra, filing quotes again with both dates, see what difference it throws, my thoughts are non, escalate a complaint for over charging and if they dont refund hike it up to the FSA.

rs65

JINGLE999 wrote: »

so neither of those are correct for the £103 fee to amend the date of license ?

That amount will be a change to the premium and a £35 admin fee.

dacouch

JINGLE999 wrote: »

but if i had entered 2 years it would have enetered 10/3/2011.... so either way i would have been wrong

You would have been quoted based on the correct two year licence held and if you had accepted the quote would have paid the correct premium.

You entered you had a licence for three years so they quoted you based on three year licence held. When they've discovered you've held your licence for two years they asked for the difference in premium and most probably also an admin fee to correct your mistake.

P.S In your example, I think you'll find they'll show you held your licence from the 10/03/11. There's a crucial difference between the 10th and 11th as your Insurance started on the 11th

JINGLE999

so basically im screwed and i dont have a leg to stand on?

dunstonh

is there anywhere that states whats the standard/maximum cancelation fee within the 14day cooling off period?

The FSA do not set any maximums. It is a commercial decision. They would expect the information to be published and clear. The FOS only have one published case similar to this and that was for £50 and about 6 years ago. They ruled in favour of the insurer saying the charge was fair.

dacouch

They should have supplied you with their terms and conditions.

"Cancellation of your policy Your policy is a contract for 12 months. If your insurance is cancelled for any reason you will be charged £75.00 in addition to the charge made by your insurer for the cover you have had.
There will be no return of premium if a claim has been made during the current year of insurance. If you pay by instalments, please also refer to your credit agreement. There will be no refund on any Additional Product that you choose alongside your Policy after 14 days from the start date of your policy."

The extra premium you paid probably included a £35 admin fee

"All changes to your policy Completed Online – £0.00, Completed Offline – £35.00"

JINGLE999

hmmm ok

thanks for all your help guys, looks like im going to have to like it and lump it! lesson learned lol